Top headlines: Supply chain hit due to Ukraine; FMCG increase products rate

Joe Biden will announce new sanctions against Russia on Thursday while in Brussels. More on that story in our top headlines.

Automakers are facing a dilemma as supply chains disruption and commodity prices worsen due to the Russia-Ukraine war. US President Joe Biden is expected to announce new sanctions against Russia during his trip to NATO headquarter, Brussels. More on those stories in our top headlines.

Supply chain uncertainty saddles auto component firms with inventory

Amid supply chain disruption and skyrocketing commodity prices that have been worsened by the Russian invasion of Ukraine, automotive (auto) component makers are staring at a dilemma they haven’t faced in some years. Most have seen the inventory of raw materials and finished goods increase. Read more

Russia-Ukraine war: FMCG firms prepare to take steep price hikes

With supply chain disruptions since the beginning of the Covid-19 pandemic pushing up the cost of raw materials, fast-moving consumer goods (FMCG) companies have been forced to increase the prices of products ranging from biscuits to shampoos to detergents. The ongoing Russia-Ukraine war has only made things worse, resulting in the costs of various commodities shooting up to record high levels. Read more

NCLT extends Jet Airways revival plan deadline till March 29

The National Company Law Tribunal has extended the Jet Airways revival plan deadline till March 29 based on submissions made by the Kalrock Jalan consortium and lenders. The deadline was expiring on March 22. Read more

Biden to announce new sanctions against Russia during Brussels trip

US President Joe Biden plans to announce new sanctions against Russia on Thursday while in Brussels for meetings with NATO and European allies, according to a top national security aide. Read more

Suzlon Energy awaits shareholder approval for a third bailout package

Shareholders of Suzlon Energy will be voting on Friday to offer a stake to a new consortium of lenders including power infrastructure finance company REC and Indian Ren­ewable Energy Development Agency. This would see the promoters’ stake falling to a record low of 13 per cent. Read more